Yet over the past decade, fewer Canadians have been giving to charity. Those who are giving are donating less, according to a 2013 Fraser Institute study.
How many of us have asked ourselves at some point in our lives: “How can I give back to my community?”
A planned gift might be the answer.
A planned gift allows you to make a meaningful donation that’s tailored to your financial and charitable goals. If you contemplate making a gift, there’s invariably a fundamental desire to make a difference.
Desire alone shouldn’t be the sole force that drives a planned gift. Affordability is crucial.
I advise Concordians and other friends to ask themselves probing questions before they consider a planned gift:
- “Is my family taken care of?”
- “What are my objectives?”
- “Will my actions — or inaction — leave tax dollars on the table?”
Mostly, I listen to people. They have queries and preoccupations. They may overlook philanthropic possibilities or ways to achieve tax benefits. I advise them that there are many giving vehicles.
It’s important to give prudently. I had a person who wanted to donate monies from his retirement income fund. I advised him to seek independent advice as to whether he could afford to do so if his circumstances changed.
I help people ask the right questions — financial, economic and legal — because a planned gift will enable them to make a more significant contribution than they thought possible.
That advice is always well received.